Cardi Gallery to Open Hong Kong Space in 2025, Betting on Asian Market

Cardi Gallery, the Milanese family-run gallery founded by Renato Cardi in 1972, will open a new space in Hong Kong in 2025. The expansion, led by Nicolò Cardi and Barbara Berlusconi, comes despite sociopolitical uncertainties and economic difficulties in the city. The gallery already has a London outpost in Mayfair since 2016 and has a strong presence at Art Basel Hong Kong. The new venue will focus on the gallery's core specialties: Arte Povera, Spazialismo, American Minimalism, and Group Zero. Cardi Gallery reported strong 2023 financial results, with revenues around €14 million, a 30% gross profit, and a group EBITDA of approximately €1 million. The move follows other major players like Christie's (opening September 2024), Phillips, and Hauser & Wirth establishing or expanding in Hong Kong. Nicolò Cardi stated the gallery is going against the current by betting on Hong Kong as a nerve center for the Asian art market. Barbara Berlusconi emphasized the goal of promoting Italian art abroad and targeting the Asian cultural market.